Denmark’s A.P. Moller takes in tenders for €500 million of two series

By Susanna Moon

Chicago, March 14 – A.P. Moller – Maersk A/S said it will accept tenders for €500 million principal amount of its €500 million floating-rate notes due March 2019 and €750 million 3.375% notes due Aug. 28, 2019.

Holders had tendered €369,733,000 of the floaters, and all of those notes were accepted for purchase at a price of 101.65.

For the 3.375% issue, holders had tendered €341,163,000 of the notes, and the purchase amount was €130,267,000 using a proration factor of 0.39235 and purchase price of 105.281, according to a company notice.

The tender offer ran from March 6 until 11 a.m. ET on March 13.

A.P. Moller met the new issue condition when it priced new euro-denominated fixed-rate notes under its €10 billion euro medium-term notes program on March 6, with settlement expected for March 16, the release added.

Settlement is expected to occur on March 16.

The joint dealer managers are Barclays Bank plc (+44 20 3134 8515 or eu.lm@barclays.com), Danske Bank (+45 45 14 67 24 or liabilitymanagement@danskebank.dk) and Societe Generale (+33 1 42 13 32 40 or liability.management@sgcib.com). The tender and information agent is Citibank, NA, London Branch (+44 20 7508 3867 or citiexchanges@citi.com).

The issuer is a business conglomerate operating in global trade, transport and energy based in Copenhagen.

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